Friday, October 07, 2016 3:12:16 PM
Deutsche Bank will have enough capital to cover its looming settlement with the U.S. Department of Justice, according to S&P Global Ratings.
S&P figures the final number will be somewhere above that $5.4-billion figure, but "materially smaller" than the $14-billion figure.
"This assumption takes account of penalties and consumer relief paid by peers to settle similar litigation cases with the DOJ," S&P analysts said in a statement.
"We remain of the view that Deutsche Bank's main challenge is the restructuring of its business model to achieve stronger earnings and capital," the agency wrote. "We believe that it was historically less decisive than peers in adjusting its strategy and balance sheet to the changed regulatory and market environment, and it is now looking to catch up."
http://www.cnbc.com/2016/10/07/deutsche-bank-can-handle-department-of-justice-settlement-standard-and-poors-says.html
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